On March 9, 2024, citizens were shopping in a supermarket in Nanjing, Jiangsu Province.
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Asia-Pacific markets were mixed on Wednesday ahead of inflation data from China and India.
Asian traders will also be watching the U.S. Federal Reserve’s decision on Wednesday, which will be released hours after the country’s May inflation report.
China’s inflation rate is expected to rise 0.4% in May, slightly higher than 0.3% in April.
In addition, according to a Reuters survey of economists, India’s inflation rate is also expected to rise slightly to 4.89%, slightly higher than April’s 4.83%.
Japan’s Nikkei 225 Index It opened down 0.65%, while the broad-based Topix dropped an even bigger 0.7%.
Japan’s corporate goods inflation rate accelerated to 2.4% in May, exceeding expectations and recording the fastest growth since August.
However, South Korea’s Cospi The Kosdaq rose 0.24%, with the small-cap Kosdaq rising 0.84%.
Australia’s S&P/ASX 200 index fell 0.5%, extending Tuesday’s losses.
Hong Kong Hang Seng Index futures were at 18,018 points, lower than the Hang Seng Index’s last closing point of 18,176.34 points. At this level, the index would hit its lowest level since April 30.
Overnight, the S&P 500 and Nasdaq Composite climbed to new closing highs, led by Apple, while the iPhone maker’s stock surged to a record high.
The broader market index rose 0.27% to close at 5,375.32 points; the Nasdaq Index rose 0.88% to close at 17,343.55 points. on the other hand, Dow Jones Industrial Average down 0.31%,
Investors appeared to be taking profits from artificial intelligence star Nvidia on Tuesday and switching to emerging artificial intelligence company Apple, analysts said, and the company’s newly launched new features may trigger a wave of iPhone upgrades.
The iPhone maker hit a new intraday high for the first time since December, with shares rising nearly 7.3%. Nvidia fell 0.7%.
—CNBC’s Lisa Kailai Han and Alex Harring contributed to this report.
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